Xiaomi reports 55% surge in Q1 revenue
Revenue rose to 76.88 billion yuan ($12 billion) in the quarter ended March 31, from 49.70 billion yuan a year earlier. Analysts expected revenue of 74.5 billion yen, according to Refinitiv data
FILE PHOTO: REUTERS/Abhishek N. Chinnappa
Chinese smartphone maker Xiaomi Corp reported first-quarter revenue growth of 55% on Wednesday, above analyst expectations, as it nabbed market share from one-time market leader Huawei Technologies Co Ltd.
Revenue rose to 76.88 billion yuan ($12 billion) in the quarter ended March 31, from 49.70 billion yuan a year earlier. Analysts expected revenue of 74.5 billion yen, according to Refinitiv data.
($1 = 6.3930 Chinese yuan renminbi)
